It’s a landmark moment for Africa as SA hosts the G20 along with its business counterpart, the B20, signalling a critical turning point in global economic diplomacy.
One of the key players in B20 SA is Busi Mabuza, chair of the Trade and Investment Task Force, an international coalition of more than 200 business leaders working to reshape global commerce for the 21st century.
Mabuza describes the work ahead as transformational: “This is a call to reimagine global economic systems, to make them more inclusive, sustainable and reflective of future growth.”
The task force’s core mandate is ambitious: to strengthen global trade and investment flows, correct long-standing imbalances and give voice to economies that have been historically sidelined. “Africa’s potential remains largely untapped, but there is immense opportunity and this is our time to ensure the continent is no longer seen as peripheral,” she says.
This is a call to reimagine global economic systems, to make them more inclusive, sustainable and reflective of future growth
— Busi Mabuza, chair of the B20 Trade and Investment Task Force
At the heart of the task force’s work are three urgent global challenges: the rise of trade protectionism, Africa’s marginal role in global markets and the destabilising effects of climate change on economic systems.
The numbers paint a stark picture. Global investment into Africa remains below 3% of the global total, and intra-African trade sits at just 17% compared with 22% for Latin America. Meanwhile, protectionist measures and tariffs threaten to further fragment the multilateral system, just as climate policy risks leaving developing countries behind.
To counter this, Mabuza’s team is advocating reforms that are bold, yet pragmatic. These include a co-ordinated effort to roll back tariffs and support the World Trade Organization’s revival, deeper regional trade integration through implementation of the African Continental Free Trade Area (AfCFTA) and new rules for climate-resilient trade.
“We want to create a new trade and investment deal for Africa, one that enables structural transformation and unlocks the $3.4 trillion market on our doorstep,” says Mabuza.
The task force is also addressing growing concerns over the proposed global minimum tariffs by the US. Mabuza warns that these could harm African economies still building manufacturing strength. “They risk limiting our access to critical markets and increasing our export costs,” she says, adding that the B20 is urging multilateral co-operation over unilateral actions.
Another flashpoint is the EU’s Carbon Border Adjustment Mechanism (CBAM), which Mabuza acknowledges could penalise African exports if not carefully implemented. “Many African countries lack the tools to measure carbon embedded in exports. Without support, these policies could become a new form of exclusion.”
Through this task force, Africa has a seat at the table to help shape a more stable, equitable, and sustainable global economy
— Busi Mabuza, chair of the B20 Trade and Investment Task Force
To that end, the task force is calling for global carbon accounting standards and the creation of a dedicated financing stream for climate adaptation, especially for trade infrastructure.
Amid an increasingly fractured geopolitical landscape, she is also conscious of the indirect costs of global conflict. The war in Ukraine and the unfolding tensions between Iran and Israel have heightened uncertainty. “Trade and investment thrive during peaceful times,” says Mabuza. “Conflict disrupts everything — supply chains, investor confidence and the price of doing business.”
Yet for all the headwinds, there is a deep sense of opportunity. “This is a pivotal moment,” she says. “Through this task force, Africa has a seat at the table to help shape a more stable, equitable, and sustainable global economy.”
And under Mabuza’s steady hand, that seat is not simply symbolic; it is strategic.
This article was sponsored by B20 SA.
